Verition Fund Management LLC Has $357,000 Stock Position in FIGS, Inc. (NYSE:FIGS)

Verition Fund Management LLC reduced its position in shares of FIGS, Inc. (NYSE:FIGS – Get Rating) by 44.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,300 shares of the company’s stock after selling 34,112 shares during the quarter. Verition Fund Management LLC’s holdings in FIGS were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of FIGS. Raymond James & Associates increased its stake in shares of FIGS by 12.8% during the first quarter. Raymond James & Associates now owns 9,970 shares of the company’s stock worth $215,000 after purchasing an additional 1,129 shares during the period. Bank of New York Mellon Corp grew its position in FIGS by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 248,047 shares of the company’s stock valued at $5,338,000 after acquiring an additional 2,126 shares during the last quarter. Citigroup Inc. increased its position in FIGS by 30.3% during the 1st quarter. Citigroup Inc. now owns 9,503 shares of the company’s stock worth $204,000 after purchasing an additional 2,211 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of FIGS during the first quarter worth $51,000. Finally, BlackRock Inc. raised its position in FIGS by 1.7% in the first quarter. BlackRock Inc. now owns 4,370,119 shares of the company’s stock valued at $94,045,000 after purchasing an additional 71,590 shares during the last quarter.

Insiders Place Their Bets

In other FIGS news, CFO Daniella Turenshine sold 14,209 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $6.66, for a total value of $94,631.94. Following the completion of the transaction, the chief financial officer now directly owns 359,321 shares in the company, valued at $2,393,077.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FIGS. Raymond James increased their price target on FIGS from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. Piper Sandler reduced their price objective on shares of FIGS to $10.00 in a report on Wednesday, November 16th. Oppenheimer cut their target price on FIGS from $22.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, November 17th. Cowen decreased their price objective on shares of FIGS to $6.00 in a research note on Wednesday, November 16th. Finally, Guggenheim lowered their target price on FIGS to $12.00 in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.23.

FIGS Stock Performance

NYSE FIGS opened at $6.27 on Wednesday. The stock has a 50-day moving average of $8.28 and a 200 day moving average of $8.27. FIGS, Inc. has a one year low of $5.55 and a one year high of $23.93. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 52.25, a PEG ratio of 7.40 and a beta of 1.63.

FIGS (NYSE:FIGS – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. FIGS had a net margin of 4.19% and a return on equity of 10.21%. The business had revenue of $144.90 million for the quarter, compared to the consensus estimate of $135.53 million. During the same period last year, the firm earned $0.09 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts predict that FIGS, Inc. will post 0.04 earnings per share for the current fiscal year.

FIGS Company Profile

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FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States. It designs and sells healthcare apparel and other non-scrub offerings, such as lab coats, under scrubs, outerwear, activewear, loungewear, compression socks footwear, and masks. It also offers sports bras, performance leggings, tops, super-soft pima cotton tops, vests, and jackets.